For any entrepreneur, laying the foundation for their venture can be very challenging. Raising capital and getting investors can be difficult and can take up a lot of your time. Even after one has built their company, it doesn’t take long for the cash flow to deplete, forcing one to seek alternative financing. An online business loan may be the ideal option for funding your business.
What is a Business Loan?
Business loans are offerings from a financial institution/lender that can enable you in the initial process with the working capital. It offers aid for the acquisition of machinery, equipment, inventory, and furniture, and the purchase of construction equipment or real estate.
A business loan app can enable an easy application for a loan without having to visit any branches or providing collateral. These applications provide services such as loan eligibility clearance, paperwork, and disbursement, among others. This provides users with convenience and security by encouraging them to use online banking features and request funds.
Here is a list of top7business loan apps in India in 2021:
- Bajaj Finserv
Bajaj Finservis one of the best business loan appin the market currently. It offers an instantloanto help fund your venture. Bajaj Finserv offers easy and instant loans of up to for funding your small business. With quick disbursals in less than 24 hours, you can use the funds to invest in new infrastructure, expand operations, upgrade to the latest plant and machinery, maintain inventory, or to increase working capital. The company also offers a flexi loan facility that allows you to withdraw only what you need and repay funds as per your business loan as per your business cash flow at nil prepayment charges. With this the interest is charged only on the amount withdrawn allowing you save up to 45% on EMIs. Get a business loan with Bajaj Finserv app with quick approval, minimal documentation,and flexible repayment tenor.
- LendingKart
Lendingkart offers customised business loans for small and medium businesses in India. The loans offered are free from the bureaucratic red tape that often accompanies bank loans and have a very straightforward application, approval and disbursal process. They have designed a fast and efficient digital interface that minimizes human interaction and thus helps in speeding up the whole process.
- FlexiLoans
FlexiLoans provide quick business loans without collateral to small and medium businesses in India for their working capital requirements. The institution offers unsecured loans starting at 1% per month. The company has more than 10000+ loans disbursed successfully.
- HappyLoan
Loans from HappyLoan are designed to help you grow your business during these tough times and gives you a relief from the burden of any immediate repayment.The appwill provide you capital of Rs 25,000 and Rs 50,000 with bullet repayment after 6 months. It comes with COVID-19 protection insurance, wherein full loan waiver is extended to the coronavirus infected.
- Fullerton
Fullerton India has a wide array of unsecured business loan of up to Rs. 50 lakhs. The flexible solutions are designed help you take care are not just your capital requirements but also short-term and working capital needs towards everything from buying or replenishing inventory, to purchasing equipment, to office expansion, to business marketing, and even paying for additional staff. With over a decade of experience serving small business owners, Fullerton India strives to provide the loans in Indiaas per the requirement of every unique customer across various sectors including retail, e-commerce, and travel.
- Tata Capital
If you want to outfit your workers with the latest technologies or you’re planning a new store opening, Tata Capital’s easy business loans will help you cover your costs. Many companies are in a state of flux as 2020 approaches, and our multi-product business finance offerings are customised to meet your unique needs. With their organised loan EMI alternative, you can better manage your company’s cash flow. You can easily apply for the loan with the business loan app of Tata Capital.
- ZipLoan
ZipLoan is one of the business loan Apps in today’s time. ZipLoan is an RBI registered NBFC that offers loans ranging from Rs. 1,00,000 to Rs. 5,00,000. The NBFC offers unsecured loans, i.e. the applicant can avail one without pledging an asset or security.